Calamos Advisors LLC Purchases 847 Shares of Eaton Corporation, PLC (NYSE:ETN)

Calamos Advisors LLC grew its position in Eaton Corporation, PLC (NYSE:ETN - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,079 shares of the industrial products company's stock after acquiring an additional 847 shares during the period. Calamos Advisors LLC's holdings in Eaton were worth $20,681,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ETN. Capital A Wealth Management LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $26,000. Flagship Wealth Advisors LLC bought a new position in shares of Eaton in the fourth quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV raised its stake in shares of Eaton by 102.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Eaton in the fourth quarter valued at approximately $33,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Eaton in the fourth quarter valued at approximately $33,000. Institutional investors own 82.97% of the company's stock.

Eaton Stock Up 1.1%

Shares of Eaton stock traded up $3.79 on Friday, hitting $361.98. The company had a trading volume of 1,088,135 shares, compared to its average volume of 2,664,244. Eaton Corporation, PLC has a twelve month low of $231.85 and a twelve month high of $379.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. The stock has a 50-day moving average of $324.90 and a 200-day moving average of $312.84. The firm has a market capitalization of $141.64 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.73 and a beta of 1.17.

Eaton (NYSE:ETN - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts predict that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton's dividend payout ratio is presently 41.98%.

Insider Buying and Selling at Eaton

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the transaction, the insider directly owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Yelton sold 2,120 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total value of $629,364.40. Following the sale, the insider owned 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock worth $49,622,894 over the last quarter. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

ETN has been the subject of a number of research reports. BNP Paribas Exane initiated coverage on shares of Eaton in a report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price target for the company. Evercore ISI lifted their target price on Eaton from $326.00 to $349.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Jefferies Financial Group cut their price target on Eaton from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised their price target on Eaton from $300.00 to $360.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company boosted their price objective on Eaton from $310.00 to $360.00 and gave the stock an "equal weight" rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eaton has a consensus rating of "Moderate Buy" and an average target price of $369.06.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.